Saudi Arabia is planning to build nearly 600,000 houses until 2030 as part of its Vision 2030 which aims to increase national house ownership to 70 percent.

The Gulf Kingdom has completed the construction of nearly 300,000 units and they are expected to be delivered by the end of 2025, said Mohammed Butti, CEO of the National Housing Company (NHC).

“We intend to build 600,000 houses by 2030 and this requires stronger cooperation with local and global developers,” he told the Saudi website Asharq Business.

“To achieve this goal, we have budgeted around 220 billion Saudi riyals to ensure timely supply of those units, mainly in the capital Riyadh.”

Saudi municipalities and housing minister Majid Al-Hogail said last week that agreements he signed with Chinese companies during his visit to Beijing include the construction of 100,000 houses in 2026.

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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